South Africa's largest minibus financier, SA Taxi, is looking for opportunities to expand its minibus lending business into other African countries and could direct R100m to its domestic finance project.

The World Bank committed a record US$14.7bn in its fiscal year to June to support economic growth and better development prospects in Africa despite uncertain economic conditions in the rest of the global economy.

Global legal practice Norton Rose has advised South African insurers expanding into other African countries to look beyond the sector-specific regulatory requirements in the jurisdictions they are entering as failure to do so could undermine their investments.